Okta Falls After Earnings, Vail Brings Back Katz, Tesla Surges

On this episode of Stock Movers:

- OKTA: Okta shares fell in postmarket trading after the cybersecurity company’s second-quarter forecast for current remaining performance obligation fell short of the average analyst estimate. Okta's muted growth view of 10-11% for current remaining performance obligations in fiscal 2Q26 implies a sharp deceleration from its 1Q results and could be due to a longer sales cycle, even with the company's expanded product suite and exposure to demand for identity security in AI-agent deployments, according to Bloomberg Intelligence.

- MTN: Vail Resorts shares jumped in extended trading after the operator of ski resorts said it reappointed Rob Katz as CEO, succeeding Kirsten Lynch, who has stepped down from the role. The company also reaffirmed its fiscal 2025 guidance. Katz will continue to serve as the chairperson of the board, which comprises 11 directors, according to a press release.

- TSLA: Tesla Inc.’s inroads in self-driving, robots and home energy systems is keeping Baillie Gifford invested in Elon Musk’s company, even after trimming its stake substantially, a director at the Scottish asset manager said. “Our holding in Tesla has not vanished completely. It’s smaller than it has been, but it’s a company that we’ll continue to watch,” Hamish Maxwell, a director and analyst with Baillie Gifford’s Scottish Mortgage Investment Trust said Tuesday in an interview.

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